Conversion of notes clearly not good for SP. Holders effectively buying shares for 67.9 cents and looking to quickly sell them to make a profit, so happy to sell for less than recent prices. Will be negative for SP each quarter. At least only 403,356 shares issued this time, but still 4 average days of trading.
Anyone notice on the 3B in points 6a and 6b CSS claim to have shareholder approval to issue an extra 10% of share capital. This was resolution 4 at the AGM which they reported after the AGM was defeated with 83% against. More inconsistencies in their ASX disclosures.
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Ann: Appendix 3B - Convertible Note Placement Update, page-4
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